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Foreclosure rates lower but still high

Published: Wednesday, September 25, 2013 at 1:00 a.m.

Last Modified: Tuesday, September 24, 2013 at 9:02 p.m.

Foreclosure rates dipped again in Southwest Florida in July, but they stubbornly remain among the highest in the nation.

The rate of foreclosures among outstanding mortgages in the Sarasota-Manatee region dropped to 7.3 percent in July, from 7.62 percent in June and from 10.94 percent a year earlier, data provider CoreLogic said Tuesday.

The foreclosure rate in Charlotte County fell to 7.59 percent, from 7.92 percent the prior month and from 10.48 percent in July 2012.

<p>Foreclosure rates dipped again in Southwest Florida in July, but they stubbornly remain among the highest in the nation.</p><p>The rate of foreclosures among outstanding mortgages in the Sarasota-Manatee region dropped to 7.3 percent in July, from 7.62 percent in June and from 10.94 percent a year earlier, data provider CoreLogic said Tuesday.</p><p>The foreclosure rate in Charlotte County fell to 7.59 percent, from 7.92 percent the prior month and from 10.48 percent in July 2012.</p><p>Still, Charlotte posted the 13th-highest foreclosure rate out of 384 metropolitan areas nationwide, CoreLogic said.</p><p>The North Port-Bradenton-Sarasota region ranked 14th.</p><p>Florida reported the highest foreclosure rate in the U.S. at 8.17 percent, but that was down from 11.52 percent a year ago.</p><p>The national rate slipped to 2.43 percent, a decline from 3.37 percent over the year.</p><p>Foreclosure rates throughout the region have been trending down for months amid a recovering economy and return of investors seeking yields.</p><p>The foreclosure rate in Sarasota-Manatee peaked at 12.23 percent in June 2011, according to CoreLogic. Charlotte hit a high of 11.93 percent in February 2010.</p><p>The mortgage delinquency rate, which measures mortgage loans that are 90 days or more past due and could be headed to foreclosure, also is moving lower.</p><p>In Sarasota-Manatee, 11.03 percent of mortgage loans were at least 90 days late, down from 15.38 percent for the year.</p><p>In Charlotte, the delinquency rate fell to 11.95 percent, from 15.31 percent.</p><p>Statewide, 12.73 percent of mortgages were at least 90 days delinquent, down from 16.61 percent at the same time last year.</p><p>The U.S. rate, meanwhile, is just 5.44 percent, which declined from 6.85 percent over the year.</p>